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Excess supply and low demand are the two main issues affecting the profitability of Mexican steel distributors, a key industry figure told AMM sister publication Steel First.
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The shale oil and gas boom in the United States is helping to reduce electricity costs and give big power consumers, such as aluminum smelters, more clout in rate negotiations, according to Alcoa Inc. chairman and chief executive officer Klaus Kleinfeld.
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North America continues to be a growth market for General Motors Co., chairman and chief executive officer Daniel F. Akerson said during the automaker’s first-quarter earnings conference call.
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Metals service center operator Olympic Steel Inc. continues to grow its capacity and move further into downstream processing in spite of a slow-growing economy and tepid steel demand, executives said.
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Service center operator Russel Metals Inc.’s foray into the energy business has intensified since the Mississauga, Ontario-based company’s acquisition of Apex Distribution Inc. in November, giving its leaders a better view of what’s happening in the oil patch.
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MRC Global Inc. expects activity in the midstream market to pick up during the second quarter after the company saw a first-quarter slowdown due to colder winter weather.
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Samuel, Son & Co. Ltd. has closed its acquisition of the assets of Wilkinson Steel and Metals Inc.
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Superior Industries International Inc.’s profits dipped in the first quarter of 2013 compared with the year-ago period as labor and supply costs affected results.
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Metals service center operator Olympic Steel Inc. posted net income of $5.16 million in the first quarter, down 17.1 percent from $6.23 million in the same period last year on revenue that slid 11.5 percent to $338.06 million from record sales of $382.05 million in the first three months of 2012.
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A.M. Castle & Co. has been trimming inventory, closing branches and implementing layoffs as part of a widespread cost-cutting effort that executives first outlined in January (amm.com, Jan. 17).
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Tenaris SA plans to build a $70-million sucker rod mill with a production capacity of 1.8 million units near the company’s welded operations in Conroe, Texas.
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Service center operator and energy products distributor Russel Metals Inc. recorded a narrower profit in the first quarter despite a boost in sales as the company saw decreased demand in some sectors as well as lower selling prices.
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Drew Industries Inc.’s profits narrowed in the first quarter as production issues, higher material costs and expansions and reorganizations bit into the bottom line.
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Ducommun Inc. has received a contract extension from Boeing Co. to provide spoilers for the Boeing next-generation 737 single-aisle airliner.
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I would like to clarify certain comments that I made on our first-quarter conference call April 25 which were then reported in AMM regarding the CRU Steel Index (amm.com, April 25).
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MRC Global Inc. posted net income of $46.18 million during the first quarter, 23 percent higher than $37.53 million in the same period last year despite a 5.6-percent decline in sales to $1.31 billion.
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Georgia steel fabricator Impulse Manufacturing Inc. is expanding after winning a contract to supply Caterpillar Inc.’s new plant in Athens, Ga., a company spokesman told AMM.
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TransCanada Corp. has received enough shipper interest to build its proposed 125-mile Heartland pipeline and a terminal facility in Alberta, the Canadian comany said.
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The top-selling automakers in the United States sold 1.11 million vehicles in April, up 9.5 percent from the same month last year but down 11 percent from sales of more than 1.25 million vehicles in March, the strongest month so far in 2013.
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Kinder Morgan Energy Partners LP has signed a long-term agreement that will support the company’s planned expansion of its Sweeny Lateral pipeline.
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Two automotive suppliers of precision chassis castings and machining parts, Diversified Machine Inc. and SMW Automotive LLC, have merged to form a $1.2-billion company named Chassix Inc.
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New software to help vehicle designers quickly and accurately evaluate material selection trade-offs, including mass, cost and greenhouse gas emissions, has been developed by the Steel Market Development Institute (SMDI) and WorldAutoSteel, the automotive group of the World Steel Association.
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U.S. Steel Corp. continues to see solid demand in the automotive market, but the steelmaker says it has yet to see a significant uptick in the construction sector.
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To assist engineers and automakers in applying the most lightweight and cost-effective steel bumpers in passenger cars and light trucks, the Steel Market Development Institute’s (SMDI’s) Bumper Group has released the fifth edition of its product manual.